Cryptocurrency

“Blockchain has to adapt to the lawyers and not the other way around,” says Spanish tax | Breaking News

Key facts:

The jurists consider that the professional judgment not be able to be displaced by the technology.However, expressing that the regulation of these tools will boost its adoption.Although the government’s recent adoption of blockchain in Spain has increased, to the domestic attorneys are concerned that these platforms may not suit your way of working. The jurists spaniards have discussed this concern and a possible regulation to blockchain in the V National Congress of Registrars.A week ago in the city of Seville gathered about 300 people belonging to the sector legal, fiscal, political, and Spain. The prosecutor Rafael Fernandez stated that the technologies blockchains “they have to adapt to the jurists, and not the other way around”. According to the vision of Fernandez, the platforms based on blockchain they will not replace never to a registrar, as the criterion of a professional is essential.The prosecutor is not against the use of new technologies in the public registry. However, it considers that without the intermediation of an expert it could jeopardize the legal security. Fernandez points out that there are still details in the operation of blockchain that prevent them from using your records as evidence in a trial, such as the inability to verify immediately who upload information to this network.However, several experts believe that although the technologies blockchains will not replace the work of lawyers, will provide a public service more efficient. Sebastian King, a spokesman for Corporate Social Responsibility, he noted that the blockchain can be a valuable tool for the sector, with projects such as REGTURI. It is a platform developed by the Association of Registrars of Spain, which was presented at the event as the latest advancement for the certification of properties for tourist use.

What about more regulation?

Carmen Pastor, director of the Baes Blockchain Labs and professor of Commercial Law, believes that the standardization of the cryptocurrencies and blockchain will boost the adoption. Pastor considers it necessary to build a regulatory framework for this ecosystem, which take into account the data protection laws anti-money laundering and the regulation eIDAS (european system of recognition of electronic identities) for secure transactions.Not all lawyers weigh in on that a greater amount of regulations will encourage the development of new projects. For example, the lawyer Cristina Carrascosa argues that the current legislation is sufficient for the proper functioning of the cryptocurrencies and blockchain. Also, Pablo Fernández Burgueño, director of the law firm SmartHC, he insisted that attention should be focused on bitcoin and the new opportunities it offers.For the time being, the Spanish government is still awaiting a posture of regulatory unit represented by the European Union. The european organization has signaled its interest in regulating specific aspects of the cryptocurrencies for use on the continent; taking even plans to launch his own criptomoneda. In this sense, the last word on the legality of the ecosystem will come not from a discussion purely internal, but also international.